JPMorgan Chase & Co. Issues Pessimistic Forecast for Blackstone Mortgage Trust (NYSE:BXMT) Stock Price

Blackstone Mortgage Trust (NYSE:BXMT) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $20.00 to $18.50 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 1.01% from the stock’s previous close.

Several other analysts have also commented on BXMT. Keefe, Bruyette & Woods decreased their price target on Blackstone Mortgage Trust from $20.50 to $20.00 and set a “market perform” rating on the stock in a research note on Monday, April 7th. UBS Group boosted their target price on shares of Blackstone Mortgage Trust from $18.50 to $19.50 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.25.

Blackstone Mortgage Trust Stock Performance

Shares of BXMT stock opened at $18.32 on Wednesday. The firm has a fifty day moving average of $19.71 and a 200-day moving average of $18.82. Blackstone Mortgage Trust has a 52-week low of $16.51 and a 52-week high of $21.24. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -15.65 and a beta of 1.22.

Blackstone Mortgage Trust (NYSE:BXMT) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $1.26. Blackstone Mortgage Trust had a negative net margin of 11.54% and a positive return on equity of 8.62%. On average, sell-side analysts predict that Blackstone Mortgage Trust will post 1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Katharine A. Keenan sold 2,323 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.70, for a total transaction of $48,086.10. Following the completion of the sale, the chief executive officer now owns 248,487 shares in the company, valued at $5,143,680.90. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 5,652 shares of company stock worth $116,971 in the last 90 days. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Blackstone Mortgage Trust

Several institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Blackstone Mortgage Trust during the 4th quarter worth $35,662,000. Balyasny Asset Management L.P. grew its stake in shares of Blackstone Mortgage Trust by 39.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,832,587 shares of the real estate investment trust’s stock worth $49,315,000 after purchasing an additional 801,083 shares during the period. Blackstone Inc. increased its holdings in Blackstone Mortgage Trust by 8.2% in the fourth quarter. Blackstone Inc. now owns 8,601,492 shares of the real estate investment trust’s stock valued at $149,752,000 after purchasing an additional 652,537 shares during the last quarter. Millennium Management LLC increased its holdings in Blackstone Mortgage Trust by 473.3% in the fourth quarter. Millennium Management LLC now owns 625,060 shares of the real estate investment trust’s stock valued at $10,882,000 after purchasing an additional 516,023 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Blackstone Mortgage Trust in the fourth quarter valued at about $8,118,000. Institutional investors and hedge funds own 64.15% of the company’s stock.

Blackstone Mortgage Trust Company Profile

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.